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The times. [volume] (Washington [D.C.]) 1897-1901, February 17, 1901, Second Part, Image 14

Image and text provided by Library of Congress, Washington, DC

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn85054468/1901-02-17/ed-1/seq-14/

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BULBDBYIBRBGULARIfY
The Jhulcts Uncertainty Due to
Professional Operations
Ilfllit Trailing in Mhii ITminllj
lruinlnrnt MinrfH One 11T tlic In n
IVnlnrcn Drlnnnrc mid Ilmlncin
Ail mi ii rex Iliur Point Tlic liffrrt
of flit Infnsornblr IlmiU Statement
NEW YORK Feb 1 The slock market
displayed considerable Irregularity today
which was partly attributable to opera
tions by the professional traders to em
phasize their expectations of an unfa
vorable bank statement
Counter Influences Included a higher
market for American rallwa securities
In London and Improved financial condi
tions at that centre and In the domestic
market further dplopments of strength
In some of the hlh prlced Investment
sharo notably Delaware and Hudson and
Chicago Burlington and Qulncy
The first mentioned stock scored a fur
ther advance of 4 points closing at the
highest figure The dealings In It were
comparatlely large and were accompa
nied by revived reports that control of
the company bad been secured by New
York Central Interests on a substantial
dltldcnd guaranteed
Opening prices verc In the main above
Trldajs closing figures and In jnany
cases a fairly spirited tendency toward
Improvement was discernible Selling by
the traders houecr soon caused reces
sions their operations being favored to
an extent by uncertainty regarding the
outcome of lltigition in opposition to the
acquisition of the Guggenheim properties
b the American Smelting and Refining
Company
After the publication of the bank state
ment the market became decidedly Irreg
ular A feature of the market was the
very light trading in a number of the
usually prominent shares In the ordi
narily active railway list the only stock
In -which there was noteworthy jctlity
was Chic jo Burllnzton and Qulncy
which on transactions of a little less than
100000 shares recorded an extreme Im
provement of 2 3 S per cut At a slight
recession from the highest price the stock
left off at a net improvement of 1 5 S per
cent
Usually active stocks that received only
moderate attention but closed a point or
more lower than yesterday included
lirookljn Rapid Transit Union Taclflc
common Reading second preferred and
St Paul
The Iron and steel stocks were only
moderately dealt In and closed at reces
sions extending to 1 1 S in Federal Steel
common In this group AmTlcan Tin
Date common was an exceptiut closing
nearly 2 points higher
Sugar He3nlng left off 1 1 2 per cent
lower In the usually inactive Issues
Commercial Cable on a sale of a single
100 share scored a net loss of 6 1 2
points On the other hand Toledo St
Louis and Western Issues were unusually
pronilaent The preferred made a net gain
of 3 1 4 per cent and the common gained
1 1 1 points
American Smelting and Refining com
mon scored a fractional net loss on deal
ing in nm f 21 000 shares and the
haa t
IllrS fcr
t ink1 mi -
n el -
s
W 4
62
oce s
in- d -T
taW Jtf
of money rrom banks for deposit iu
trust companies An increase in deposits
of 516733100 with the changes mentioned
brought about the net result of a reduc
tion In tho surplus reserve of 7510 175
bringing the total of that lri uown to
S12S52450 as agaicot a surplus a jear
ago of 25i5
Ihere are no definite Indications of an
appreciable change In domestic money
market conditions beyond the shifting of
accounts Incidental to the plans that are
In progress by the larger banking and
railroad interests to Improve the status
of the transportation Iron steel and coal
industries The net result of the interior
movement of money is still considerably
In favor of New York
The1 bond market was active for a half
holiday the transactions exceeding
J3000000 par value The market was Ir
regular In sympatbv with the stock list
The strong features included St Louis
and Iron Mountain general 5s Southern
Pacific Collateral Trust 4s and Toledo
S- Louis and Western first 4s and Wa
bash Debenture Bs The curb market
was strong on a fairly large volume of
business
The dealings Included sales of Seaboard
Air Line common at an - 1 4
and preferred at 31 1- -
Steel sold at 7S 3 4 Bri 1
per at CI 1 2 Americ
at 45 7 S the preferred
Commercial preferred a 1
clfic convertible fours rat
ltsued sold at 107 and 1 m i
The closing was lrrR i i
evr York Stock MarVt
Corrected dally br W P l bi To r
ben of the New York lu ittsr 111
street
wire
Wire pM
American Fnrir
American Tobacco
Atchlron
Atcklaon pld
B t O
B ft O ptd
Brooklyn Rapid Tranalt
Chesapeake ft Ohio
a a o st l
Chicago B ft Q
Chicago ft Northwater
O M ft St Iaut
Chlcaro It I ft Pacif
Chicago ft O ettern
O F I
Consolidated Gu
Continental Tithat te
Delaware ft Huctoa
retftral Met
Federal FteeL pfj
General Electric
Illinois Central
LoilsTllle ft Nashellle
Metropolitan Tracvton
UsnhatUn Elevated
Uiiioiri Pacific
U tu ft T pIJ
Kew lork Central
M Y O A Western
fiortheni rsdfic
fiortbern 1sunc iifa
Pacific Slall
fenn
KeadbC nrst
Southern ficinc
boillern Hallway
fcoutbern itaiiw plu
leasa taciac
Tcnn lai A Iron
Op-
WA
3T
n H
1 4 i
Jx
Jl
I
i
i ii4 u
3 4
71
7a jf 74
EC
7JH
13
Ltuun lsclc tHtt
Union Pacific pfd
U 8 Lcatncr
U B Rubber
vvabn in-
Western Ccion Tel
irnaUsmatcd Copper
trie
Lrlc Crst
CSV
a
C
tm
OS
an
OJ
15
li
it
HI
1
lit
JK
al
li
Sfc
IM 131 13U 130
Bl Dili 9 JJli
163 163 4 113a Id
IIS Us 117 1I7
TO W K1J
St MJ4 5jS 5jV
HIM H6H HSi HJU
S3 JJ jU S3
OS tn 8jS 1JV
t7 7i bin
41 41 i0 ji
K is Mi IDUS HH IIjh
Gas 1mJ till lll 1
Peoples
iota
lot
7i
o
23
4
b1
J44
trt
rt
jih
fej
as
OJ
Many Important people feel confident of
sitrher prices in the stock market The
possibilities In the way of increased earn
ings for the rallwa a that the community
of interests plan holds out are superb
Something along this lino was published
In this column last week An article giv
ing much moro of detail appeared In The
Times yesterday afternoon The reason
for the community of interests plan is that
Its promoters believe it will save the rail
way money or In other words Increase
their profits This no one qutstlons And
yet up to the present time few of the peo
ple that trade In stocks outside of the
Inner circle have taken this fact into con
sideration in thIr estimates The pro
fessionals have continued to point to the
lact that prices are now higher than they
were a year ago and much higher than
thoj were five jears ago They have ar
gubd that therefore the are too high If
tho insiders in the community of interest
plan Mr Morgan and bis friends are
right in their supposition that the plan
nl bo profitable to tho railways their
basis of estimating on the Intrinsic value
of railway securities Is probably quite a
distance removed from that of the profes
sional operators The supposition in tho
article in The Times yesterdaj was that
the railways will save 100000000 and
rore annual by their economies This
it will bo seen is equal to 4 per cent per
annum on two and a half billion dollars
of stocks Tho preferred stocks are all
now receiving their full limit of dividends
and this fluOOOODOO will therefore all go
to the common slocks Add to this in
creao of profits the other lncreaso that
wilt curao with the natural expansion of
tho cobntrvs prosperity and It will be
reeii that there is ample reason tor opti
mism on the part of Mr Morgan and his
friends This outlook Is not one on which
such far sighted people as thej might be
oxpected to sell out their holdings of
stocks With monev on a 2 and 3 per cent
basis stocks at their present prices and
with their good prospects poaslbly may be
considered cheap Instead of dear by them
The last two das of the past week have
witnessed an unexpected development in
the market In the shape of a sharp ad
vance In the high priced securities gen
erally while the low priced issues have
been to a certain extent neglected ind
sold jestcrdav If anj thing lower thin
they were on Thursdav There are care
ful but optimistic market people that
believe this movement should be consid
ered a keyUo the present condition of the
market
The professionals are at presnt bearish
for the most part This Is no new thing
with them but during the pas few dais
they have shown a particularly strong
disposition to sell stocks short They
have said that the insiders are unloading
stocks all the time and that a crash is
to come shortlv The advnnces of one
sock after another tl ej have consl lered
strong I hey have esreciailj advised the
selling of such stocks as the high prKed
grangers and the Pacifies Such a fine
upward movement as has occurred in
Burlington Northwest New Iork Cen
tral Pennsylvania Rock Island and Dela
ware and Hudson does not agree with this
theory On the other hand it Is In en
tire harrnon with the supposition that
the insiders are not selling their stocks
but buvlng more and that tbeso big peo
ple look for a level of prices much higher
than any yet attained Such a movement
should In fact be considered a bull rr
gument of the utmost importance
If the insiders are selling nut their
stocks and have been doing so for some
time past it is an Interesting question
why they should have moved Burlington
up six points Just now when it was sag
ging downward slowly but steadily in a
way that would have been entirely sat
isfactory to them This advance was not
accomplished without the purchase of a
even sornewnat weak re York central
have been boomed to a higher price than
any ever attained by It before If on
the other hand the Insiders expect a
hUher level of prices and consider stocks
a good purchase the switch from the low
iced issues to the gilt edged stocks at
le present time is entlrel natural The
iw priced Issues have been advancing
ir three or four weeks while the
s anthracite coalers and Pacifies have
en neglected
The bank statement yesterday was cot
surprise but It was somewhnt virrse
showing than had been expected The
gures were as follows
eaervca decreased 751017
Loans increased 1933M
Specie decreased 26770icJ
LiiU dre tJ 643rt
IUr nl incrcTed 167Mlii
Circulation decreased 733
The surplus reserve a week ago was
120362625 and jesterdays decrease re
duced it to 112352450 It Is not in the
least likely that these figures will have
any further Influence on the market than
they had yesterday While they were re
garded by the street as a bear argument
after the manner of the street there is In
reality nothing to cause fright anywhere
The banks are not likely to be disappoint
ed that they find a readier use for their
immense deposits Money Is plentiful
everywhere and rates are at their lowest
Call money was offered yesterday on the
exchange after the bank statement at 1 1 2
per cent and found no one who wished
to borrow
The following table of price quotations
in the active securities shows the net
range during the past month
Jan li Jan 20 I ib K
tejn n -
Atiliwn pM
nltunure ft Ohio
ft O M
irlmstou
- Paul
xk llanl
hoaiMAe Oliiu
ouivillc A Nahlmllc
fisMiuri Pacific
fortleni Pacific
vortlicrn Pacific xfd
mon Pacific
t Lmon Pacific pM
la inc
I ew vork Ccntril
lrnnlranu
Keadtns 1st pfd
Jiritey Cintral
Nmtliern Railway
Southern Itatlflrai ltd
rjcilii Mail
Sujjar
nierican Tobacco
Peoples Vm
leather
retleral irei
Iniencan Merl
TcnncMK Coal A Iron
Colorado uel L Iron
Brookljn Rapid Transit
Metrojtolitan
vtanhattan
67
va
67 i
11C
154 J
155U
4H
V
elk
St
875
l4
119
73
isv4
21
13S
lis
103
13
51
40Vs
5oVi
121
Ks div and ex nislits hx div
IW
Ma
OSS
bG
1
1MH
121
ta
87U
bl
WV5
41
112
ll i
71
1V
2014
7H4
41
131s
IK
i4
3i4
41
S7
IV
i
J62i
110i
J7
SSNi
811
871
1MV4
lilt
47
ill
m
Ki
KH
SI
40
11 i
119 j
75
SI
74T
130
117
I 101
i3
IK
1
K
40
77
iras
117
The outlook for the steel securities is
quite as rosy as that of the rallwa s and
from the present ndlcatlons the boom
in this group Is not far distant It is
quite possible that there may be sonic
decline this week in them though cvru
this is not probable It Is possible for
lnstanie that the insiders may to
buy In stocks cheaper than their present
level And if this is so it Is cvld nt that
they would have no trouble in putting
out stories that would accompllsn their
purpose for them very easily Tln sug
gestion that the various steel stocks are
to be exchanged for stockb In the Icw
company at a lower level than the pres
ent one would be likely to depress Ihem
badly for a few clays If It were given
out with a semblance of authenticity that
Iedcral Steel common and SteM ard
Wire common were to be cxchangi d for
Inited States Steel common tit 40 for
Instance there is a strong probability
that this would send the price of tliBe
securities very nearly to that level It
would be market Jobbery but it would
be worth millions of dollars to tho nsid
crs and market Jobbery Is not a new
thing This Is one of the disadvantages
that the public labors under and al
ways will As Co tho ultimately much
higher level to be attained by these e
curltlei or those of the new co npany the
fluctuations of last week or tho coming
week have nothing whatever to do The
same arguments that apply to railway
stocks apply with even greater force to
the Mteel securities This new company
If It is to be one company or this lombi
natlon It It Is to take the combination
form will save as much lony in the
steel business as the community of In-
The Liquid Cn7finrtWTSlS quidPomfeA
EvenMorning ZjjMjYJWy I TEETH Every NipfyrA
NEWSIZE LIQUID 25 POWDER 25 VToTggxSTlSN0L I
THE TIMES
tercsts plan will savs for the railwajs
The consolidation hcie Is male by tne
same people as those at work in tho rail
ways and their purposes n the one mse
are the same that they nre In the nther
The securities of the anthracite coal
group are likely to profit especially by
tho communltj of interest plan In tho
near future The plan started with thi
group and It is completer and more ef
fective here than anywhere else at pres
ent Tho estimate Is mnde that 23000000
will be saved in the transportation of coal
alone under the new conditions A little
consideration of this figure will show how
Important it will be to the anthracite se
curities The phenomenal advance in Del
aware and Hudson during the past week
is an example of what can be done with
a stock when conditions aro favorable
The top notch reached by it yesterday was
171 1 2 and the olose was at tho top Two
or three days ago it was selling at 153
It is reported that the Louisville and
Nashville is seeking to obtain control of
Evansvllle and Terre Haute Louisville
and Nashville has hung back for several
weeks in a discouraging way and the
people who were predicting par for it are
not heard any more It Is a good sign
There can be little doubt that the advance
is to be made
A temporary Injunction was placed on
the Smelters Company yesterday against
the Issuinre of the new stock necessary
to the completion of the deal with the
Guggenhelmer people People who have
been well Informed regarding the affairs
of the companj do not attach much Impor
tance to the matter and are talking most
hopefully regarding the outlook for both
the common and the preferred securities
of the company
The earnings of the Northern Pacific for
the first week of February show an in
crease of J42 000 The Pacific securities
are among those that the bears have been
picking out for a big slump in the imme
diate future If their Information is as
good regarding these stocks as it has been
regarding Burlington it seems probable
that new high prices will be reached bj
thim before tho end of February It is
interesting to note that the St Paul deal
which was given up two weeks ago is not
dead jet A new plan for the purchase of
the company was talked of In the strict
v esterdav on thn authority of soran one
simply a trick to make the market look I that claimed to have Inside information
People close to the management of the
Western Union Compauv state that tho
stock has only begun to advance Thcjr
premise developments of Importance In the
near future
tVnnltlnctftn StncU ISxclinrtKc
Sales Capital Traction 4s COOftlOS
Washington Traction aand Electric 4 1 2s
J10C06 G4 l 4 1000iT64 1 2 Washington
Loan and Trust Company 210170 lOiT
161 3 4 Union Trust and Storage Com
pany 5j108 Capital Traction 40t1051 3
B 30 260ft 105 1 2 City and Subjrban
Ilallroad 25T20 Illggs Klre Insurance
Compan Hfdi 3 S Washington Gas r
JT57 5 S 50t57 1 2 255i57 3 S 508571 4
Mergenthaler Llnoljpc 10ft 157 1015S
101V 34M01 lOfilCO 1 2 300160 100
1C0 1 4 lOjflGO 1 2 S 20 100160 3 4 S 30
100161 S 30 150162 400162 1 2 200
162 1 S 100162 1 S 100162 1 S 100 163 1 2
1091631 1 1W5163 20Q1C21 4 10
good many thousands of shares of the I 1162 Seller 30
stock And why should the llstlesB and tpe 600 13 5 S
Lanaton Mono
nnifTir rs rtnror CI
Amnrlcin firanbnnhnnn fnmninv mm
mon 34109 1 2 Amercan Graphophoae
Company preferred 25ft 0 7 8 After call
Riggs Pirn Insurance Company 10
7 1 2 Capital Traction SO01O5 1 2 1000
105 5 S Bucr 30
COVFRMIENT BONl
Bid Atked
U 8 rs R 1500 SO Q J ior
li B n lonosn o 3 IM 1051
17 R r R ions o r UOV IIIK
u s ra mo r c r noa nm
IT 8 1KXI Q 1 1I3 INK
U S 4a 1507 O J Hv lUi
H S 4 R 1BK 117 1U
It s r Js 117V 138
U S Vt R 1004 1 110 IIIK
u h - a lax q r liov 3ii
DISTRICT Or COLUMBIA nOND
rundiea currency t fl5a 122
U1SCFMANEOU8 PONDS
Cspltsl Traction K B 4a 103 10j
Hash Trac ft rlec Coll 4Ha 6IS 64 U
HeL R R fa IMS 113H 120
lift It R Cert lud btfdntu A 107 110
Met R R Cert Indebtedness B 106
Colombia R R f H14 122
Columbia It It 2d mult Ss 107
City ft Snbnrban R R MS
Ararotia ft Potomac 6a
Waih Gsa Co ser A 0a 1002 17 112
nash Css Co ser B fla 1001 112
U S Elec Light Deb Imp 1007 104J
U S Flee Ilaht CerL Indebt 102H
Chra ft Pot TeL Con a 103f
American Security ft Truit 5 s 1 I
Waih UarVet Co lit 6s 163-
1811 J70O1 retired annually HO
Hull Ukt Co Imp 6 1512 17
Wash Ukt Co est Bs 191l 27
Uasonlc Hall Alsn Ss C 100S 105
Amencsn Graphoohone Deb V 93
13
106
103
lOlil
110
RAFK DEPOSIT AND TRUST COUHAMIS
Kational Safe Deposit W
Waih lxian and Irut 163
American Securttr and Trust 215
Uaihlrzton Safe Deposit M
Colon Ttut ft Ktorage 1073
NATIONAL BAKE EI0CK3
PanV of Washmctoo 405
Metropolitan 675
Central 213
tanners snd lieclianlce 215
Second 170
Citizens 165
Columbia 170
Capital IB
West End 117
Traders 13
Lincoln lj
RAILROAD STOCKS
spltsl Trtlon 10j
City A Suburban 20
170
103
120
12
105
23
LNSURAfiCS CTOCKS
Piren en -
rranklln 40
Ueiropolitan 71 85
Corcoran 62
Potomac 70 7j
Arlitgton V6 31
Oerrran Amerlcan 2LXJ
National Union 9 J
nlumbit 10
RiCgs 7a 7i
Peoples 5 o
Commerclsl 4
Colonist 110
TITLE INSURANCE STOCKS
Ural Fstste Title SO 10
Lolumljlt Title 4i 5a
Usilngton Title 3i 4
Jilrict Title fA
TELEPHONE 1STOCK3
Cbesapese ft Totomac 71 70
QA3 KTOCha
Haahinon Caa 57 57S
Oeotketown Css 57
U1SCELLANLOUS STOCKS
Uercentbsler Linotype
tension llonotype
Amerlcsn Grspbopuone
Vnierican jratlicip0one ptd
Pneumatic Gun Carnage
Wabinclon Market
Norfolk A Waiuirgton
Li Dividend New StocLa
iai iki
13Si HI
Ji -
ID II
10
THE CHICAGO GRAIN MARKET
Wln at Irregular With Corn nml Outs
Ntronir
CHICAGO Feb 16- Whcit opemil lower
on the l 2d decline Liverpool anj large
Australian shipments 760000 bushels
which suggest heavy worlds shipments
on Mouday and another Increase afloat
Tho pressure on the market houevei was
local traders being the principal sellers
Commission houses bought The market
later turned strong advanced 1 2 cent nn
the strength In corn and finally closed
unchanged from last night
Paris was weak 134 lower Antwerp
5 8 lower Primary receipts for the day
were slightly under last years and are
about the same for the week The cash
trade here continues slow the seaboard
reports 22 loads
Corn was very strong It opened a
shade lower on the decline at Llvcipool
and the weak feeling in wheat traders
were the sellers Thebe offerings were
nbsorbed by commission houses which
steadied the market and turned It strong
prices advancing 1 cent a bushel From
time to time the market met heavy realiz
ing sales for local professional account
but new outside buying was large enough
to sustain prices Tho cash demand docs
not Improve
Oats were active and Krone large sales
WASIHNiT1sJNAY
105
yesterday for ihiiimtnt estimated at
T3O00O bushels Starting the firmness The
strength In com vrSs an Influential fac
tor Shorts wee ggdd buyers of May and
there vva3 a faloutBfde trade Maj close 1
at tl e highest jjrlcd jet leached for that
future
There was further realizing in provi
sions by a fewlocaJ longs and this re
sulted in an easier market Packers
bought on the decline The market closed
steady J
The prospect of a continued large hog
movement 200000 estimated for next
vicek outweighed any other influences
Stocks of pork and ribs in store here show
small Increases since February 1 Thile
the stock of lard is unchanged
Cliiensro Grnln hikI Provision Mnrket
Corrected dally by W R Hibtw 6c Co mem
be of the New iork Stock hichsijc HIS F
WHEAT Open Hlh Low lli
February 71
i5i
5S Tii 70WII
CORN
Kebuary 311
May 40S
OATS
reiruary 24V
ilaj
TORE
February
Uav
LARD
Febrjary
Uaj -
RHlS
Fcbruary
Interest M
Icbruarv 77
March 77 3 4
hid 70c aski
Western coi is
ruary and 1
much of the
came out and
and corn ca
ocean room I
market closed
14 1 lc bid 44
bid 44 l 2c a-
Flour Mai
per 2 302
3 00 Westq
ter Patents
J3 8504 20
Spring Bak
Ucst Patent
Grade rami
tirade Hxtn
Tamlly J4 0
Iennsylvanit
6
j
land Virgin a
21503 00 Ji r
sylvanla Fair
Super 2 50i
Bye flour ro
Oats The
elevators 21
31 1 2c do iu
21l02i l 2c do
it i
39f
41
24
2dS K IoU
3H
24
25V
yot much who 1
Wl
t
um h t r
Vf iifUKi
i br work
aX caiblas
troasr S w
K ank1
Fi r
iv7jy HiO
lKiC l
J
1-
tJ
I J
i Extra
FEBRUARY 17 lJl
39i
21V
ii
14 15 1415 HIj 14 15
50
710
r50
10
750
r50
710 710
Iseir Yorlc Cotfon 3IarWet
Open UlgEL lw
Harch 9 02 9 04 893
Hay 9 U5 BOB SOU
Jtllyt 0 03 9 US 900
August 8 CO K 67 8 Ob
i5
8 97
9 02
9 UtJ
8 67
BALTIMORE PKICE CTJKRENT
Wholesale Provision and Grnln 3Iiip
ket luotntluna in Pull
BALTIMORE Feb 16 rollovvin are
todays quotations In the local wholesale
provision and grain markets
Wheat Stock in elevators 46S574 bus
Rcceiptb ol Southern were very light
only one small parcel being received
which sold at 74 cents by simple Tho
feeling wa easy however in sympathy
with Western and graded lots were nom
inally lower at 78c for No 2 red
Corn Stock In elevators 1581 J51 bus
There was an absence of receipts or of
fering of Southern and the market ruled
dull Under a good enquiry ho v ever
prices were nominally hlghsr and if here
No 2 white would have brought 45 1 2Q
46c and yellow or mixed 44 1 2045C Cob
firm at S2 40 per bbl for carload Uts
prime yellow on spot
Western wheat oponed dull and easy
February 77c Foreign markots both
Unied Kingdom and Continental were
locr while sentiment In speculative cen
tres on this side was inclined to be bear
ish There wcto no features cash wheat
still being In demand but scarcely any Is
to be had while options are nominal
most entirely ame on
market Irl nTei
lull no
Spot
asked
78 2 4c
a
durlng
le corn
y quiet
l r chetp
lull The
February
i 44 l 4c
tern
2 1510
atenls
5G3 95
i ltlmore
a and
d Penn
y Mills
1503 90
Q325
3tock In
2 31
j No 1
ungraded 29031 l 2c
mixed No 2 28 l 2029c do No 3 27 1 2
fi28c do No 4 26 l 227c ungraded
6 1 2fi29c
He The market was quiet Stock in
elevators 121C18 bus No 2 re in car-
lots 51c No 2 rye 48c No 2 Western
re 54c for spot and about same price
for February re Bag lots nearby quota
ble at from 45unlc per bus as to quality
and condition
Hay Market qufet Choice timothy
per ton No 1 timothy 17 00
No 2 16 50 No 3 15 50 No 1 clover
mixed 15 50rl6 No 2 clover mixed 14
ffli No 1 clover 15015 50 No 2 clover
13 5C14 50
Straw -Market was quiet
straight rje new 13 50014 No
tangled rje 8 50139 00 wheat
No I
12 50
650S
700 oit straw 7 5008 00
Mill feed Market was firm Light
weight bran 17 50 raediun 16 50 heavy
do 15 50 middling 17 00 latter for
lightweight all track spring bran in
200 lb sacks 172317 50 do in 100 lb
sicks 17 50018 00 Clt Mills middling
firm at 18 00 per ton
drain frolghts Market quiet Liver
pod JK r bus 2 5 Sd February and March
I ondon per qr 2s 6d March Glasgow 2s
Februar Belfast 2s 6d Februar Dublin
2s 6d Februar Bristol 2s 61 February
Ielth nono offered Cork 3srcbruary and
March Denmark 3s February and March
picked ports 2s 6I February Antwerp 2s
February Bremen 40 pfgs March Ham
burg 2s 6d March Havre none offered
Butter Market stead Creamer separ
ator extra 24021 l 2e extra first
23022 l 2c creamery flrft 21022c cream
ery separator extra zjfizic extra llrst
2202c creimery first 2021c creamery
Imitation extra 1S01UC Iowa and North
western ladle extra 16017c do extra
first 11015c Western store packed 130
14c Ohio rolls first 13010c second 130
14c West Virginia rolls llrst 11015c
second 13014c Elgin creamer prints
1 2 lb 26027c do 1 lb 25026c do 2 lbs
23024c Maryland and Iennsylvanit
creamery prints 1 2 lb 25026c do 1 lb
210 25c do 2 lbs 23011c
Eggs The maiVet wvis quiet to steady
Strictl fresh 26021c Western 19c
Soitbern 19c
Fish and oysters The market for fish
was stiad to firm Bass large 10c
small lo medium- Uc lb erocus 405c
rock bollliig 12cr medium 10c do pan
10c white perch -large 10c medium OUT
8c oIow perchilargc 56c small 2fr
2c grey trout pe1 lb large 8c do per U
small Ct fresh salmon lb 13018c shad
Florida roe each 50cj do buck 25c cat
fish le flounders per pound 607c eels
I0tc lobsters oysters bulk stock
SOc0l 20 per bus choice raw box per
bbl 304 50 medium 203 culls 1500
2 terrapin Chesapeake dlamondback 7 ln
per doz 18060 6 ln3O0J5 5 ln 10
Green fruiH anil vegetables The trnr
ket vas quiet Apples N Y per bbl
fancy King 3 0003 50 do good to choirc
2 50i72 75 Baldwins per bbl 2 4002 75
Greenings 2 5002 75 No 2s ail varie
ties per bbl 15002 00 beets home
grown per bunch 101 l 2c enrrots home
grown per bunch 1011 2c cabbage
New York per ton 14 00016 00 home
grown per 100 2 5003 00 cranberries
Cape Cod per bbl 9 00010 00 do per
box 2 500275 celery Michigan per
dozen 40060c do New York per dozen
25060c home grown per bunch 304c
egg plants Florida bbl 2 000350 box
11002 0 horse radish native bus box
1000125 lettuce North Carolina 1-2-bbl
basket 75c015O Norfolk 1-2-bbl
75cfilMl Florida 1-2-bbl basket
15002 50 North Carolina 1-2-
bbl basket 1 5002 50 onions Nsw York
cllow per bus 90c do Western yellow
per bus 90c oSter plants native rcr
bunch 202 1 2C oranges Florida per
box lis to size 2 0003 00 pineapples
Florida per crate 3 4003 70 string
beans per basket green 2 500
So srinrrh hemo grown bus loz 300
33c strawberries per quart 25020c
utrnlps native per bun 2j02Oc toma
toes Florida per 6 basket citrrler
2 0004 00
Oro cries Baw sugar steady refined
firm Quoto per 100 Ib lots Granu
lated 5 CO cutlonf 8 10 Kevstono
j 60 yellow sugars 54 6004 SO molasses
N O St Clare 3Sc Klngsland Sun
light N O 26c St Vincent P II 3c St
Johns p K 19c No 12 Sugar House l8c
Syrups Tim market was steady Cold
Medal 27c King Vanilla 29o Rock
Candy Drips 27c Gilt Edge 24c Corn
22c No 12 17c Tea was firm HyBon
superior to flno 28032c choice to choic
est 42S45c uncolored Japan new crop
finest 31033c choice to choicest 32011
extra choice 46c Oolong Amoy and Ful
chow new crop flneit 40013c choice
to choicest extra finest 3040c
Potatoes The market was steady to
firm Maryland and Pennsylvania prim-
per bus 50055c do New York primes
per bus 54057c Michigan and Ohio 500
55c Hf rmuda per bbl 505 50 sweets
Eastern Shore kiln dried per bbl 1 254
1 50 do per flour bbl 1 5001 75 do
Maryland per bbl 1 600175 North Caro
lina prime per bbl 1 500175 yams
choice 1 0001 25
Poultry The market was steady Old
fowls 901 1 2c per lb springers lie
per lb roosters 2a03Oc apiece ducks 110
12c per lb turkeys 9012c per lb dressed
chickens 10llc per Ib do ducks ll
12c per lb do turkeys 10012c per lb
Green coffee Ilarket steady No 7 Rio
grade 7 1 Sc
Roasted cofee Market steady Bulk
roasted coffee Pure Java 32c Maracalbo
22c pure Laguayra 22c pure Santos 19c
African Java 18 l 2c Rio blend 18 l 2c
Pcabcrry mixture ISc pure Mocha 30c
Java Mocha blend 27 l 2c These coffees
are in fancy hairs papcr llhed J If pack
ed In cans or tubs l 2c higher
Package brands EL L C ICO lb case3
12c 60 lb cases 12 l 10c 36 lb cases
12 2 lOc Lion coffee in 100 lb lots 1170c
In 60 lb lots 11 80c
Cotton Market quiet middling fl l 2c
strictly low middling 9 3 8c low mid
dling 3 l 4c Stock in Baltimore 2203
bales
BANKS AND INVESTMENTS
vri mill ConkIii HeirnrilliiK tlie
I iical Sre iirlt Market
The past week In the local security
market has been one of the most active
and interesting on record Business has
been large every day and the fluctuations
In prices have been wide in many securi
ties Interest has been widely diversified
In general there has been a gratifying ad
vance In prices A prominent local broker
was quoted in this column last Sunday In
a statement of the opinion that securities
In the local market are selling at too low
a level and are excellent Investments at
their present prices The developments of
the week have done much to confirm this
view and there are many Investors and
speculators who have changed their minds
for the better regarding some of the local
stocks
Yesterdays local market was the most
active of the week but only a little more
so than those of several previous days
The number of shares bought and sold
was about 2500 and the value of the trans
actions was about 150000 Mergenthaler
was boomed In a way quite remarkable
half a dozen or more brokers seeming anx
ious to buy the stock at once The salea
totaled 400 shares Capital Traction was
sold to the extent of 460 shares Lanston
was traded In to the extent of 800 shares
and Graphophone common to the extent of
350 shares More than a dozen securities
in all were represented In the dealings of
the day
The matter of greatest interest in the
financial world locally during the week
undoubtedly has been the sharp fluctua
tions In Mergenthaler Linotype stock The
stock is held In Aery largo blocks here
and is in fact one of the most Important
of the local Investments It is estimated
that between 25000 and 35000 shares are
held by Washington people representing
perhaps 000060 The recent sharp de
cline of the stock from around ISO to 153
was therefore vitally Interesting to a
great many people And In the same way
the recovery in t vo days this week from
153 1 2 to 163 1 2 was a matter or the
largest moment It meant that the hold
ings of local people had Increased in mar
ket value at least 250000 in that time
Tho break in the stock has been due
largely It may be believed lo manipula
tion in this city and in New York and
Boston Also it is entirely safe to state
that the break went very much further
than it would have gone If tho num
ber of small holdings in the stock were
not so great During the last few days
of the break from 160 to 133 1 2 sales of
20 or 20 shares often hrnkn thp nrirp a
point or more The bears In the stock
were able by the risk of a small margin
on ten shares of stock to break the mar
ket price of the entire 100000 shares a
point or so And more than this their
manipulation scared many of the small
holders out near the bottom and in many
cases caused them to lose their stock en
tirely for it is usually the case that such
investors do not buy back what they have
sold especially if the price advances
An officer of the company who wrote to
a Washington holder of the stock recently
stated tint the earnings so far this year
have been tin- largest on n cord It is
kuown that the compiny is several months
behind Its orders and not catching up with
them In the least There was a rumor In
F Street esterday that tho Mergenthaler
people have bought or are now negotiat
ing for the Monoline Company machine
and patents This story had a good ef
fect on the stock as the talk of the pos
sible competition of the Monoline machine
In the future has been one of the bear ar
guments against the stock It Is now said
that If the extra dividend of 10 per cent
on the stock Is not all paid this year the
reason for it will bo that the money is
being used in buying out tho Monoline
It has been one of the notable past
achievements of the Mergenthaler people
that they have made all extensions and
purchased ail patents out of the earnings
of the company Instead of Issuing bonds
and new stock as many other companies
do The stockholders have been treated
In a most liberal way In the mnttcr of
dividends and they have never been asked
to put up a cent assessment on their
stock or to buy bonds
The bank and trust compan stocks con
tinue buoant Kccent advances In the
bank stocks have been as follows
aliuiilnii tan to IW bid
Mi trolwlitari J
Untril 200 to 210 bid
Scoiid Km to 10 bid
OUrem 1 HMO lft bid
lte to 10 bid
oliirnlu - - -
Capital 1J lo IOj bul
The trust company stocks have made no
rdvinces durlrg the past week but have
held their own excellentl
The volume of business done b tho
inerlcan Security and Trust Company
during the car 1900 is stated officially
to have been tho largest on record The
rompau has had a steady and rapid
growth since the car of its organization
and its stock has attained to its present
level well abovo 2CO in what must be
considered a very short time
The securities of well manased binks and
trust companies are nnturally among the
safest and most proiitalilo inu stmentB It
is posslblo to tinke These Institutions
once well started In a growing clt nd
ince in pro3perit with tho city almost
unavoidably Their securities adiance in
alie as no othirs do A number of tho
local securities bate already shown this
In a nmarkable nay And thure are others
that seem likely to mako records equally
An ofier of 700 a sharo was mado for
Metroiolltan Uink stock during the pist
week The Iouest priced stock offered for
sale is at JSCfl i share It Is whispered
that the company will adinnco Its dividend
rate 1 per cent quarterly or from 2S to 3J
per ctnt per annum In tho near future
Tho statement is mndo by a director of
the compan that it Is earning 4 per cent I
-
riwciiiv
V r2Il
Telephones
X Main 1818 and 1880
X
Vast Riches
Iiavc and arc now beinsr made in
oil Gigantic preparations are now
being Vigorously pu lied bo tint the
Eastern Star
Oil Company
OF LOS ANGELES CL
that Is now paring its Investors a
2 Monthly Dividend
ha every prrwpect of tncreaxinsr
it to 5 per cent monthly This
week you can secure stock
At 25c per Share
Tile price will
Speak quick
surely advance
THE QUEEN
of all oil landi Is the Kern River
District where this company owns
CjO acres of highly developed and
producing land together with 600
acres of nch oil land in the Kram
er and lNeThal districts
ADVANTAGES
They have wells producing oil of
a superior quality They are eml
nently ftjccessful Their suprem
acy is acknowledged Their man
agers are oil men a great ad
vantage They guarantee their
tock in writing agreeing to re
turn your money with 8 per cent
interest if investment is not wi
tirely utwfactTTry Get pros
pectus K
Write now
L E Pike Co
BANKERS
719 Equitable Building
Baltimore Mel
Phcnuc Block Spnnjrfield Mai
Hartford Conn Chicago 111
IS Nassau St Xew iork N Y
Cleveland O Boston Mas
ml
BAMCS AM TRUST COMlAMES
THE RIGGS NATIONAL BANK
OF WASHIXGTOV a a
Capital S500000
SLRPLUS 250000
ltmiDEl PROFITS 5100CHO
EACIUNCE OX
ENGLAND IRELCD FRANCE and GEItlliNT
Letters of Credit
AVAILABLE IV ALL FOREICV FRTS
IUK COLLECTIONS
ORDERS FOK INVESTMENTS
STOCKS AND BONDS
American Security
and Trust Co
Interest on Deposits
Ten can open an account vlth this
ecmpny check against It st will ani
rcceire interest on yojr ironthly balances
C J BELL President
cTel eod tl
Washington
avings
Cor Itli nml G
Bank
Sm V AV
Does a get eral commercial banking business and
allows interest rn sawngs acciunt at the rate ol
3 per cent per annum Rents fcafe iKpmit Hoc
3 a year felS 13
A WINTER CRUISE
IN SUITOR WATERS
To Jninnlcn about two vrccka
Hiieclul trip anil nil polntn on
the Cnrlblionit Sen hy the com
modloiiH Mtennterit of the
Lcniliif er YorL eicrr
Siittirlu Send for II
luntrnfed booklet free
Aboit5Fer Day Defrays All Expenses t
PIM FQRWOOD KELLOCK j
General Agents
17 Mate St MV OllIC
deK uw 2ft
on 1000 a share
capitalization
or 40 per cent on the
There has been a sharp roial In Lans
ton stock during the pant week It is said
that a new group of prominent people have
recently become interested in the com
pany and its prospects and are buying the
stuck
The Washington Traction and Electric
Loads are hiving a steady though slow ad
ance from their Ion price Tne demand
for the bonds now seems to be a trifle bet
ter than the supply Capital Traction
bonds are steady at 10S Capital Tractian
stock receded a point or so from Its high
prlco of 10B but was strong again Iriday
and jesterday A large ulocic of he stock
was bought esterday at 1C3 1 2 and
103 -8
c
riXASCIAL
i
Ernest R Humphrey
X
Banker and Broker
Stocks Grain Cotton and Provisions
1329 F Street N W
Correspondents
Kilduff Co
Fast Wire Quotations
Bank References
OIL IS KING
FIXAlsCIAIu
f iTf t
i 1 1 II
Money to Loan
At 4A and 5 Per Cent
OV REAL ESTATE IS D C
NO DELAY BEYOVD EXAMIVATTOX OF TTTIi
WALTEll II ACKER
J04 llth St 3IVT
W B HIBBS CO
DAMvEKS AND BROKERS
Umbers Kew Tork Stock Exchange
1419 F Street
Correspondents of
LADCfBURC
N
Til
VLJIAVX X CC
Yirk
MONEY AT
4i and 5 Per Cent
Loaned on Ileal Estate In District ct Columbia
Lo rest Commission
HEISKELL McLERAN
1003 F Street
Telephones ltri 1S13 and 13eO
ERNEST R HUMPHREY
BANKER AND BROKER
1329 F St KV
Corrcipondentj KILDUFF fc CO
Large or fractional lots executed for cash or car
ried on small nurans Fast service orer our M
clusiTe private wires
MOfGT WAXTED AXD TO LOAJT
Plenty of Money
to loan anjr amount you want
Your credit Is always good here No
reason why you should be without
It come and see us Our rates aro
the most reasonable In the city
We guarantee that to be so Losdj
made on jour Furniture Pianos
Washington Mortgage Loan Co
610 F STREET 610
SALARY
Leans to responsible parties on their own
note Loans on Furniture Pianos Oraiu and
Personal Security Left la your posienion To
ererybody Your credit U good here Wi bar
tvo lines o businessand caa the ba
rat In vtc city We are the largest company
of this Und in Washington It will be to your
Interest to consult cs bcore pomy elsewhere
Ml payment ttrrasged to suit your conTcnieaee
We would ce pleaded to hare you calL Prints
room for ixules
CAPITAL LOAN GUARANTEE CO
m r st
Private entrance Room 8
LoansofIOBon
IMA
NW
in the rear
ifrftl
apiTardu made
FLKMTLIIE
IAOS HORSES
Waecns etc at lowest rates and on the dar yoa
apply We are loaning on the Building and Loan
Usociation plan which makes the cost of carry
ing loans much less than you pay elsewhere xni
alows you to pay it off In any sized notes you
desire running from one to twelre months You
only pay for the use of the money for the length
of time you carry it If you hare a loan with
come ether comrany we will pay it off and ad
vance you more money if desired Rates cheer
fully eiren and no cost to you unless loan is
made Loans made anywhere in the District
Call and pet ratea Front room first floor Scien
tific American Sulldinj
National Mortgage Loan Co
925 f st N w
Cash to Loan
on riRMTiinc riAXos etc
without removal from yenr possession and In any
amount from 13 to 500 Our rates are the
cheapest and jou can make your own terms
Loans made within three hours from the lime
jou apply e han for the interest only and
do not arant your goods so yoa need hare m
fear of losing them Our offices are upoa the
filth floor avray Com the street and are so ar
ranged that we can ensure strictest privacy Ilrup
n and Eft cur rates
lOTOMC GDAIIAVTEC LOi
S v F ST NEAITOTU XV7
Room 74 Atlantic Building
Take Elevator to Fifth Floor
CO
We Negotiate Loans
We will loan you any amount bom 3 up
in monthly paj ments or one month or a
rear on HOUSEHOLD GOODS PIN03
STORAGE RECEIPTS etc It you hare
loan elsewhere -we will pay it oft and ad
vance you more money No expense unless
loan I rude
EVANS COMPANY
707 O ST X TV
Room 3 Fint Floor Rear Opp Tatent OSce
vourrSrws5tD
io iccrrr
UQCisxr
I HOUXIVO
DONT HESITATH GhOKGEO
ttoom 10 Central Bfdr Cor 9th and Penn
Are
Do You Need Money We Have It for You
tVe want to call your attention to our plan ot
loaning ironey on Furniture Pianoa Organs or
my household jrood r say to you If you need
meney thU I the moi reliable loan office in tit
city lou hare no delay So unnecessary ques
tions to asV jou Our terms are the cheapest
cur payments the imallat and your own titre
to return the money We will lend jou any
amount from 10 up Prlrate offlcea Bushi Mi
tlrktly conhdcntuL COLUMBIA GUARANTEE
CO 613 F L nw tall tf
SIOE TO LOW at 3ij to 5 per cent in suras
ot 1 000 to JlOOuO on I C real eftatc pay off
n ami it ner rt nt mortmains and Ijpitn nnu til
iransaitionj conducted with economical considera
lion lor borrowers mi 11 SAUAUrlij J CO
U07 F st m rn3
UOXEY 10 and up loaned on furniture pianos
etc at the Iouest rates and on rasr pajrrents
I udnew strl tly conndcntiaL SOUTHERN LO VV
CO Room I S arder Pdg fel Imo
SONET TO LOW OV APPRO tD COLLAT
LItvL Vo iMay CIUItLKS A BKER Rooms
to and II MTitt Bulldiny 1110 F St
UlOKMlVS
FREDERICK HA1G
ATTORNFi AT LAW
Equity liuildinj 319 44 Street
Collections Jotary Public
ml5
Uncle Sam Dont Wear
i A Irius but he carries the Air
trV4 Cushion Truss all OTtr the United
States Men women and chlldrei
near and them The Air Cushion Pad holds
vrith coMfnrt nothing else wilk Consultation
snd two wcelj trial tree Lady m attendance tor
ladles Office parlors waiting and consultatiou
rooms on the same floor Catacjcs free TIIK
IIOIIICK ll CUSHION TRUSS COUrANV 12l
t st 11s d floor
gjfc

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